NOT LISTED FOR SALE

302 E Elmwood Ave Burbank, CA 91502

Downtown Burbank Neighborhood
16 Beds
4 Baths
9,392 Sq Ft
6,970 Sq Ft

Last Sold November 12, 2014

Last sale price $2,600,000 $277 Per Sq Ft

38 Days on Market

Highlights

  • Den with Fireplace
  • Central Heating and Cooling System
  • Carpet
  • Joaquin Miller Elementary School Rated A-
  • 17 Car Garage

About This Home

As of November 2014

Probate Sale subject to Court Confirmation and Overbid. Accepted price is $2,600,000 All Cash 10 Day Close. First overbid in court will be $2,730,500. COURT DATE IS SET FOR 10/7/2014 @ 8:30AM AT STANLEY MOSK COURTHOUSE 111 N. HILL ST., DEPT. 11. Offers on Probate Purchase Agreement (PPA) only, 10% deposit by cashier check ($273,050) is required. 302 East Elmwood Avenue is a 1990 stone-front construction, 10-unit apartment building located in one of the most prime areas of Burbank. The units are varied with six one-bedroom/one-bath units, two two-bedroom/two-bath units, and two three-bedroom/two-bath apartments. While the building is impeccably maintained, a new buyer will be able to immediately take advantage of great upside in rental income. This provides a new investor with the opportunity to add value and cashflow nicely in an area that rarely trades.

Last Agent to Sell the Property

Jeff Louks

Marcus & Millichap License #00908473 Listed on: 07/08/2014

Last Buyer's Agent

Jeff Louks

Marcus & Millichap License #00908473 Listed on: 07/08/2014

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1989

Lot Details

  • 7,190

Parking

  • 17 Car Garage

Interior Spaces

  • 9,392 Sq Ft Home
  • 2-Story Property
  • Den with Fireplace
  • Carpet
  • Disposal

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 4 Bathrooms

Additional Features

  • 7,190 Sq Ft Lot
  • Central Heating and Cooling System

Community Details

  • 10 Units

Listing and Financial Details

  • Assessor Parcel Number 2453-037-036

Property Details

Home Type

Multi-Family

Year Built

Built in 1989

Lot Details

7,190 Sq Ft Lot

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 9392
  • Probate: Yes
  • Stories: 2
  • Year Built: 1989
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace Rooms: Den
  • Flooring: Carpet
  • Bedrooms: 16
  • Total Bathrooms: 4.00
  • Equipment: Garbage Disposal
  • Price Per S Q F T: 244.89

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No
  • View: No

Garage/Parking

  • Parking Garage: Garage
  • Total Parking: 17

Utilities

  • Cooling: Central
  • Heating: Central

Lot Info

  • Assessed Improvement Value: 694372
  • Assessed Land Value: 231452
  • Assessor Parcel Number: 2453-037-036
  • Geocode Override: No
  • Lot Size Area: 7190

Rental Info

  • Court Approve: Yes

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 17.49
  • Number Of Units: 10
  • Type Of Units: Apartments
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/12/2014 11/12/14 Sold $2,600,000 +13.0% $277 / Sq Ft
08/15/2014 08/15/14 Pending -- -- --
07/08/2014 07/08/14 For Sale $2,300,000 -- $245 / Sq Ft
Source: The MLS

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $34,846 $3,124,802 $1,874,882 $1,249,920
2024 $34,846 $3,063,532 $1,838,120 $1,225,412
2023 $34,480 $3,003,464 $1,802,079 $1,201,385
2022 $32,939 $2,944,574 $1,766,745 $1,177,829
2021 $32,785 $2,886,838 $1,732,103 $1,154,735
2019 $31,472 $2,801,215 $1,680,729 $1,120,486
2018 $31,234 $2,746,290 $1,647,774 $1,098,516
2016 $29,601 $2,639,650 $1,583,790 $1,055,860
2015 $29,006 $2,600,000 $1,560,000 $1,040,000
2014 -- $930,026 $232,502 $697,524
Source: Public Records

Agents Affiliated with this Home

  • Jeff Louks

    Seller's Agent in 2014

    Jeff Louks

    Marcus & Millichap

    (818) 212-2700

    67 Total Sales

    Jeff Louks
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Map

Source: The MLS

MLS Number: 14-775181

The MLS
California Los Angeles County Burbank 91502 Downtown Burbank

302 E Elmwood Ave, Burbank, CA

Not Listed for Sale

MultiFamily

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